Scaling Back Can Be a Great Investment
When considering long-term business goals, growth often comes to mind. But what does that mean and how is that achieved? There’s no single answer. For one business, that may mean expanding by on-boarding employees and adding new locations. For others, though, business growth may not be so literal. Instead, scaling back could be beneficial. Businesses that transition from a large team to a small team may experience certain advantages such as reduced costs and improved communication and involvement, which could lead to business development and success. It’s true that less can sometimes be more. That’s why, in many ways, scaling back can be a good thing and result in a worthwhile investment.
Smaller Teams, Lower Costs
Let’s state the obvious. It could go without saying that scaling back can significantly reduce expenses and ease financial strain, but this is a big benefit that shouldn’t be glossed over. Having a small team can diminish costs in multiple ways. Not only does a smaller staff mean less money going to paychecks, it also reduces the amount spent on supplementary tools and resources. Moreover, scaling back may make it possible to transition from a large office to a smaller office or coworking space, both of which are likely to have lower monthly rent. All of these factors can lead to impactful savings, and with that comes greater flexibility and freedom to make important business decisions. This could include making new investments or increasing marketing budgets, which could lead to business growth.
Improve Communication & Become More Involved
Working with a small number of employees can free up time that can be spent focusing on priorities. It also allows more control and involvement in day-to-day operations. With less to oversee and manage, it becomes easier to get to know individuals, assess strengths and weaknesses, define clear objectives, and develop a dynamic and cohesive team. Smaller businesses often experience more cross-departmental collaboration. This can bring about valuable ideas, insights, and perspectives that can help define business strategy. Additionally, working alongside a small team can strengthen communication and encourage team members to ask questions and clarify expectations, which is crucial to efficiency and productivity.
Get More Out of Scaling Back: Urban Office Can Be Great for Small Teams
Choose a Membership That Best Suits Your Business
Our coworking space accommodates a variety of work styles and is perfect for businesses that have recently scaled back to small teams who wish to work cohesively. We offer several membership options that include multiple perks and amenities to support different business needs and objectives. This allows members to choose what works best for them. Private offices are great for small groups of coworkers preferring to work jointly in a quiet and designated space. Alternatively, teams seeking more flexibility or that have irregular work schedules may opt for a basic coworking membership, taking advantage of shared community tables as needed.
Utilize Meeting Rooms & Host Events
Our meeting rooms can be an especially useful resource to support team collaboration. These rooms are equipped with display screens and dry-erase boards, making them perfect for brainstorming ideas as a group. Alternatively, they can be booked when inviting clients or freelancers for occasional meetings.
Our three meeting rooms seat anywhere from eight to fourteen people, but two of our connecting rooms can be transformed into one large room to seat more people. Small businesses may want to take advantage of this by hosting public workshops. With fewer team members, everyone can be included and get involved with these events, which can be important for getting names out there and making new connections through networking. It’s also a great advertising opportunity for businesses, as we publicize these events on our website and social media.
Find What Works Best for Your Business
The best route to professional and business growth is dependent on a variety of factors and unique objectives and timelines. That’s why it’s important to consider all options and weigh the pros and cons to determine the right business decision. Remember, though, that adding more isn’t always necessary to get more out of business and reach professional goals. Sometimes scaling back can be a great investment.